Vanguard Investor Choice | Vanguard
Vanguard Investor Choice
A voice for investors
Vanguard is reimagining proxy voting to empower investors with a greater voice on important corporate governance questions put to company shareholders.
How to participate
Have a Vanguard brokerage account?
Enroll here
Vanguard funds held in an external brokerage account?**
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About
How to participate
Policy options
Insights & updates
About
How to participate
Policy options
Insights & updates
About Investor Choice
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Ready to participate?
Select a voting policy option aligned with your personal preferences.
Vanguard brokerage accounts
Vanguard funds held in an external brokerage account**
** Proxy voting policy selections made through proxyvote.com may not apply to investors in brokerage accounts if Broadridge Financial Solutions doesn’t have access to their Vanguard equity index fund ownership information.
Vanguard Investor Choice empowers equity index fund investors with a more direct voice in the proxy voting process.
With Investor Choice, individual investors, financial advisors, and plan sponsors can choose a proxy voting policy option that is best aligned with their preferences. Their chosen policy directs how their proportionate share of eligible mutual funds and ETFs are voted at corporate shareholder meetings on important topics such as executive pay and the election of board members.1
Launched in 2023 and now available across 32 Vanguard funds, the Investor Choice program represents nearly $4 trillion in eligible assets under management (AUM) and is available to nearly 22 million eligible investors, extending Vanguard’s mission to give investors the best chance for investment success.
As we look to 2026 and beyond, Vanguard is committed to expanding Investor Choice to all U.S. equity index fund investors and exploring program offerings to regions outside the U.S.
$3.6T
Eligible equity index fund AUM in the program
$9B
Participating equity index fund AUM in the program—more than triple 2024 participation level
82K
Participating fund shareholders—more than double the 2024 total
Sources: Vanguard, as of December 31, 2025 (eligible equity index fund AUM); as of September 10, 2025 (participating equity index fund AUM and participating fund shareholders).
Explore the 2025 report
1 Vanguard will rely on the share ownership information provided by an investor’s broker or custodian in its calculations. Due to rounding or other factors, the proportionate share of portfolio company shares that are voted according to a fund shareholder’s policy selection may not always exactly match that shareholder’s proportionate ownership. Additionally, shares of a security that are on loan pursuant to Vanguard’s securities lending activities or shares that are subject to vote restrictions or ownership limitations could impact the total number of shares available for the fund to vote. In such cases, an investor’s proportionate share will be calculated utilizing the number of shares eligible to be voted by the fund after excluding shares on loan or subject to such voting restrictions and ownership limitations.
Why it matters
Our program is built on two beliefs: investors should have a greater say in how their share of fund holdings are voted and elevating more investors’ voices supports a healthy corporate governance ecosystem.
Learn more about how you can get involved.
Video length: 1 minute 19 seconds
Transcript
Video transcript:
Vanguard has a 50-year history of making investing more accessible for millions of people . . .
. . . from creating the world’s first index fund for everyday investors, to innovating low-cost target-date funds and investment advice.
More recently, we’ve reimagined proxy voting so that individual investors, their advisors, and retirement plan sponsors can participate more directly in the proxy voting process. We call it Investor Choice, and it empowers our investors with a voice on how proxies are voted.
It’s easy to sign up: If you invest in a Vanguard equity index fund, with one click, you can choose a voting policy that aligns with your preferences.
Your policy selection determines how your shares vote at the companies in which your fund invests on important topics such as executive pay and the election of board members.
Vanguard has expanded Investor Choice since launching its first pilot in 2023, and we continue to see more and more investors eager to have their voices heard.
Learn more about how you can get involved.
Read more
How it works
Vanguard Investor Choice offers a menu of five distinct voting policy options that reflect a range of approaches to proxy voting.
Through a...